QuickBooks is an accounting software package developed and marketed by Intuit. It was first released in 1983 as a small business accounting program that could run on the Apple II computer.
The software was developed by Scott Cook and Tom Proulx, who were both former employees of Procter & Gamble. Cook had a background in finance, while Proulx was a programmer. The two met in the late 1970s when they were both working at a startup called Parsons Technology, which developed software for accountants.
After leaving Parsons, Cook and Proulx started working on their own accounting software, which they initially called "Quicken." The first version of Quicken was released in 1983, and it was designed to help individuals manage their personal finances.
In 1985, Cook and Proulx realized that there was a market for a small business accounting program, and they decided to develop a new version of Quicken that would meet the needs of small business owners. The new program was called "QuickBooks," and it was released in 1992.
QuickBooks was an immediate success, and it quickly became the leading accounting software package for small businesses. In 2002, Intuit acquired the company, and since then, QuickBooks has continued to evolve and improve, adding new features and functionality to meet the changing needs of small businesses. Today, QuickBooks is used by millions of small businesses around the world.
QuickBooks is a comprehensive accounting software package that offers a wide range of features designed to help small businesses manage their finances more effectively. Some of the key features of QuickBooks include:
- Invoicing: QuickBooks allows you to create and send professional-looking invoices to your customers, track payment status, and set up automatic payment reminders.
- Expense Tracking: You can easily track your business expenses by connecting your bank and credit card accounts, uploading receipts, and categorizing transactions.
- Time Tracking: QuickBooks offers a built-in time-tracking tool that allows you to track employee hours, billable hours, and project expenses.
- Payroll: You can use QuickBooks to manage your payroll and pay your employees via direct deposit or paper checks.
- Reports: QuickBooks provides a wide range of customizable reports that give you insights into your business finances, including profit and loss statements, balance sheets, and cash flow statements.
- Inventory Management: You can use QuickBooks to track your inventory levels, set up re-order points, and generate purchase orders.
- Mobile Access: QuickBooks offers a mobile app that allows you to access your account and manage your finances from anywhere, on any device.
- Third-Party Integrations: QuickBooks integrates with a wide range of third-party apps and services, including payment processors, e-commerce platforms, and point-of-sale systems.
Overall, QuickBooks offers a powerful set of features that can help small businesses manage their finances more efficiently, save time, and make more informed business decisions.
QuickBooks offers different pricing plans based on the needs of different types of businesses. The plans range from basic features for freelancers and independent contractors to more advanced features for small and medium-sized businesses.
Here is an overview of the pricing plans for QuickBooks:
- QuickBooks Self-Employed: This plan is designed for freelancers and independent contractors. It includes features such as tracking income and expenses, capturing and organizing receipts, estimating quarterly taxes, and tracking miles. The cost of this plan is $15 per month, but it is currently available for $7.50 per month for the first three months.
- QuickBooks Simple Start: This plan is designed for small businesses that are just starting out. It includes features such as income and expense tracking, invoice and payment management, tax deductions, basic reports, and receipt capture. The cost of this plan is $30 per month, but it is currently available for $15 per month for the first three months.
- QuickBooks Essentials: This plan is designed for small businesses that have more complex needs. It includes all the features of the Simple Start plan, as well as enhanced reports, bill management, time tracking, and the ability to connect up to three sales channels. The cost of this plan is $55 per month, but it is currently available for $27.50 per month for the first three months.
- QuickBooks Plus: This plan is designed for small to medium-sized businesses that need more advanced features. It includes all the features of the Essentials plan, as well as the ability to connect all sales channels, inventory management, project profitability tracking, and the ability to add up to five users. The cost of this plan is $85 per month, but it is currently available for $42.50 per month for the first three months.
- QuickBooks Advanced: This plan is designed for medium-sized businesses that have more complex needs. It includes all the features of the Plus plan, as well as powerful reports, the ability to add more than five users, employee expense tracking, batch invoicing and expenses, customized access, and workflow automation. The cost of this plan is $200 per month, but it is currently available for $100 per month for the first three months.
Additionally, QuickBooks offers a free 30-day trial for all of its plans. It is important to note that some features, such as the guided setup and dedicated account team, may not be available with all plans.
Can a virtual assistant use Quickbooks to assist a business?
QuickBooks can be a useful tool for outsourcing accounting and bookkeeping tasks to virtual assistants or virtual property accountants. A virtual assistant can use QuickBooks to manage a wide range of financial tasks, including:
- Track rental income and expenses: Virtual assistants can use QuickBooks to track rental income and expenses, such as mortgage payments, property taxes, and repairs.
- Manage vendor and contractor payments: QuickBooks can be used to manage vendor and contractor payments by tracking invoices, payments, and expenses.
- Create and send invoices: Virtual assistants can create and send invoices to tenants or clients directly through QuickBooks, making the process faster and more efficient.
- Track inventory: QuickBooks can be used to track inventory levels, set up re-order points, and generate purchase orders for property-related supplies.
- Manage payroll: Virtual assistants can use QuickBooks to manage payroll and pay employees via direct deposit or paper checks.
- Create financial reports: QuickBooks offers a wide range of customizable reports that give insights into the financial health of the property or business, such as profit and loss statements, balance sheets, and cash flow statements.
- Track expenses: Virtual assistants can easily track business expenses by connecting bank and credit card accounts, uploading receipts, and categorizing transactions.
- Budgeting and forecasting: QuickBooks can be used to create and manage budgets, as well as to forecast income and expenses for the property or business.
- Manage taxes: Virtual assistants can use QuickBooks to manage taxes by tracking income and expenses, generating tax forms, and filing taxes electronically.
- Manage multiple properties: QuickBooks allows for the management of multiple properties, making it easier for virtual property accountants to keep track of finances for multiple properties.